Bitwise Says Corporate Bitcoin Purchases Could Rebound as Early as Late 2026
Corporate Bitcoin purchases could accelerate again toward the end of 2026 if Bitcoin's price recovers, according to Bitwise Head of Research Ryan Rasmussen. His assessment follows a sharp decline in corporate Bitcoin accumulation during the third quarter of 2026, when purchases by Strategy and other publicly traded companies fell substantially from the previous quarter.
Data shared by Rasmussen showed that Strategy's net Bitcoin holdings increased by 83,901 BTC in the second quarter but rose by just 1,666 BTC in the third quarter. Net Bitcoin purchases by other publicly traded companies also declined, dropping from 45,725 BTC to 5,617 BTC over the same period.
The figures point to a significant slowdown in corporate demand for Bitcoin as a treasury asset. However, Rasmussen indicated that the trend could change if the cryptocurrency's price begins to recover, potentially encouraging companies to resume buying between late 2026 and 2027.
Bitcoin Price Recovery Could Encourage Corporate Buying
Rasmussen said a stronger Bitcoin price could help revive corporate accumulation. One factor that could influence purchasing decisions is whether the shares of companies holding Bitcoin begin trading at a premium to the value of their underlying BTC holdings.
If those premiums return, companies may have greater scope to pursue additional Bitcoin purchases, according to the Bitwise research head. The potential relationship between share valuations and treasury expansion could therefore play a role in determining whether corporate accumulation gains momentum again.
For now, the third-quarter figures show that both Strategy and other publicly traded companies significantly reduced their net Bitcoin purchases compared with the second quarter. Rasmussen's outlook for late 2026 and 2027 remains conditional on a recovery in Bitcoin's price and a more favorable environment for corporate buying.
Spot Bitcoin ETFs Provide Another Source of Demand
Rasmussen also emphasized that corporate treasury purchases are not the only factor that could support Bitcoin's market recovery. Even if a new wave of corporate buying fails to materialize by the end of the year, other sources of demand could still help prices recover.
He specifically highlighted US spot Bitcoin exchange-traded funds (ETFs), which recorded $6.4 billion in total net capital inflows during the third quarter of 2026, according to data cited by Rasmussen.
Continued investment through these products could provide additional support for Bitcoin, even if publicly traded companies remain cautious about expanding their holdings. The ETF figures indicate that demand through investment products remained an important component of the market during a period when corporate accumulation slowed.
Bitcoin Demand May Depend on Multiple Factors
Rasmussen's assessment points to two potential sources of support for Bitcoin: renewed purchases by publicly traded companies and continued inflows into spot Bitcoin ETFs. While a recovery in corporate buying could strengthen demand, the market's prospects do not depend exclusively on companies adding BTC to their balance sheets.
The next phase of corporate accumulation could depend partly on Bitcoin's price performance and the valuations of companies holding the cryptocurrency. Meanwhile, continued ETF inflows could help sustain demand independently of whether corporate treasury purchases accelerate.
Although Rasmussen sees the possibility of corporate buying picking up again from late 2026 into 2027, the timing and scale of any rebound remain uncertain. The third-quarter slowdown highlights the importance of monitoring both corporate purchasing activity and investment flows through spot Bitcoin ETFs when assessing the outlook for Bitcoin demand.
source: en.bitcoinsistemani
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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